The Brent contract for differences (CFD) : a study of an oil trading instrument, its market and its influence on the behaviour of oil prices

Working paper

The decision to undertake a study of the Brent CFD (Contract for Differences) market was made for two reasons. The first is that the Institute has done major research work on the various constituents of the Brent market complex in an almost continuous manner since 1984. This led to the publication of two books, The Market for North Sea Crude Oil (1986)l and Oil Markets and Prices (1993),’ and a number of related working papers and monographs on other oil markets and trading instruments. When researching for the most recent of these two books, very little was known about the CFD market. As a result there were only some cursory references to CFDs in Oil Markets and Prices.

Authors: Barrera-Rey, F; Seymour, A

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies
• Series: OIES paper
• Publication date: 1996-01-01
• Edition: Publisher's version
• Paper number: SP5
• ISBN: 0948061928
• Language: English
• Keywords: Brent; forward price; squeezes; differential; spot price; liquidity; futures; spot market; trading instrument; volatility; OIES; CFD; oil contracts